For flippers or buy and holders investing less than 2-3 years, this is huge.

-You can make renovation yourself or manage in your house without having an RBQ since you are a 'proprietaire occupant'-If you want to build new construction you need to get you 'auto-constructeur' license-You are supposed to hire only rbq license holder to work on your project but you wont get a fine for not doing so-when you will sell, buyers will be reassured that a pro did the job-get a legit electrical and plumbing company since they garantee their jobI suggest you do a few flips and after check out if the rbq is worth it,I dont know about the Ottawa market, is it good?

In some cases a bank or lien holder may suggest that as an avenue of relief, but the home owner has to pursue that option.  

For my rentals  anyone over 18 is added as a lease holder and has a background check.

(Side A tenant is a 30 day lease holder) Side B have a fresh lease until Mar. 2019 @ 625/per month.

Where it gets a little nerve-wracking is if the first lien position holder chooses, they can set the minimum bid price, which typically includes their lien, legal fees, delinquent interest and whatever else are reasonable costs they are trying to get back as a result of the default.

Who would be the first lien holder?

I would read the servicing agreement and see if there is any language there that would prevent you from exercising your rights as a lien holder as you see fit.  

PM me if you need some ideas of what other SDIRA account holders do. 

The transaction had closed with owner financing and the seller had collected one monthly payment when the note was sold to an investor.Here are the details:Sale Price $237,640Down Payment $ 98,640Original Balance $ 139,000Terms: 6.5% interest, $878.58 per month, all due in 5 yearsDeal Analysis:UPB: $138,874.34Amount Invested $: 120,141.27Purchase Price %: 86.5% of UPBYield To Investor: 10.09% based on balloon and 7.96% based on amortization.Discount: $18,733.07 (or 13.5%)LTV*: 58%ITV*: 51%*Loan to Value (LTV) and Investment To Value (ITV) based on FMV of $237,640Investor Offered $120,141.27Note Holder Offered $115,141.27Note Finder Referral Fee $ 5,000.00The investor funded the deal and collected payments to earn their yield.